German politician admits on campaign trail that Greece will need more help

It seems like an odd pronouncement for a politician on the campaign trail, but German Finance Minister Wolfgang Schaeuble isn\’t exactly known for sugar-coating things. According to news reports, Schaeuble, campaigning on behalf of his and Chancellor Angela Merkel\’s Christian Democratic Union near Hamburg, told an election rally: \”There will have to be another program for Greece.\”

The Wall Street Journal said a spokesman for the German finance ministry said euro-zone finance ministers had agreed last year that more funding would be made available for Greece when its current aid package begins to run out in 2014, and Schaeuble had previously warned that further help would likely be needed.

But the remarks stood in contrast to Schaeuble\’s previous, more restrained statements on the subject, and also stand in contrast to comments by Merkel, who has gone out of her way to not make any public commitments on further aid, the report noted.

Merkel remains popular in Germany, and polls show her CDU likely to be the top vote-getter in national elections on Sept. 22, though it remains to be seen if the libertarian-oriented Free Democratic Party will garner enough support to continue as the CDU\’s junior-coalition partner.

Schaeuble, 70, a longtime politician who helped negotiate the country\’s reunification, is Germany\’s second-most popular politician after Merkel, according to Bloomberg.

Story Conversation

About The Tell

The Tell is MarketWatch’s fast and engaging look at trends and themes in the day’s markets. Drawing on our reporters, analysts and commentators around the world, as well as selecting the best of the rest online, The Tell is all about the pulse of the markets through news, insight and strategic information to help you make the best investing decisions. Got a tip? Tell us at TheTell@MarketWatch.com